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Charity legacy giving, also known as planned giving, is a form of charitable donation where donors include gifts to nonprofits in their estate plans. It’s a way to ensure your values and philanthropic spirit live on after you’re gone.
While these gifts can be deferred, meaning they are not disbursed to the nonprofit until after the donor’s passing and the execution of their estate plans, some donors choose to make the donation during their lifetime to witness the impact of their gift.
OFFER a lasting gift that will support people in need for generations to come.
Common Forms of Legacy Gifts:
- Cash: Donating a specified amount or percentage of your estate through a will.
- Donation of Securities: Donating appreciated securities (stocks, bonds, etc.).
- Life Insurance Policies: Naming a charity as a beneficiary.
- Property: Assets like real estate, investments, or valuable possessions.
- Retirement Assets and Funds: Designating a portion for charitable distribution.
Benefits of Legacy Giving:
- Support Important Causes: Help organizations continue their vital work.
- Tax Advantages: Potentially reduce estate taxes or generate tax deductions.
- Personal Fulfillment: Knowing your legacy will make a lasting impact.
GIFT OF SECURITIES TRANSFER FORM DOWNLOAD
See our Legacy Definitions List
To find out more about other legacy gifts click here, or if you have any questions, please give us a call at 416-869-3619 ext.223
*Disclaimer: Information on legacy gifts is a guide and general in nature. It is not a substitute for professional legal or financial advice. Good Shepherd Ministries encourages all potential donors to seek independent legal and/or financial planning advice.
Legacy giving is a powerful way to leave a lasting impact on the world.
As you consider creating or updating your estate pans, this tool helps to illustrate the benefits of tax-effective gifts to charities and the resulting reductions in taxes for your estate.
We hope you find this tool useful!
*Disclaimer. This is a tool, always seek financial and legal advice.
How to Get Started:
- Identify Your Values: Determine which causes resonate with you.
- Consult a Financial Advisor: Discuss your goals and explore options.
- Involve Your Charity: Many organizations offer guidance and resources.
- Update Your Will: Ensure your wishes are clearly documented.
Additional Considerations:
- Be Specific: Clearly state the charity and purpose of your gift.
- Consider a Residual Gift: Provide income for life and then donate the remainder.
- Explore Donor-Advised Funds: Maintain some control over how your gift is used.
Please remember homeless today and in the future when doing your estate planning. Your gift can make a real difference!
